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Who else thinks that it would be intriguing to see how many bitcoins the Compensator 2.0 could mine in a week?

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By Guest
in Folding@home, Boinc, and Coin Mining
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Do it Linus....

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Probably next to nothing. Bitcoin mining on consumer CPUs and GPUs has been dead for a long time.

I actually couldn't underclock my 5 year old GPU to make it as slow as a next-gen console.

#pcmasterraceproblems

~Slick

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Maybe like 0.0001....

Mining bitcoins is horribly slow now, especially with  consumer GPUs, and even worse with nvidia GPUs.

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Literally zero, the difficulty is so high that it won't find a single block.

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How hard is it to solder up your own asic cards?

Because those bad boys are damn expensive.

Thats what I thought. Soldering hardware is easy. Its the programming thats hard.

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I've been wondering, does mining bitcoins basically give you free money? I don't really understand. What I've imagined it as being is you basically turn your computer on, leave it on all night and you have $20?

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6 hours ago, Canada EH said:

How hard is it to solder up your own asic cards?

Because those bad boys are damn expensive.

Thats what I thought. Soldering hardware is easy. Its the programming thats hard.

as easy as soldering your own motherboard, near impossible without very specialized tools.

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15 minutes ago, AGH22 said:

I've been wondering, does mining bitcoins basically give you free money? I don't really understand. What I've imagined it as being is you basically turn your computer on, leave it on all night and you have $20?

Kinda, but you'll need expensive hardware and your electricity costs will likely go up.

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2 minutes ago, AGH22 said:

I've been wondering, does mining bitcoins basically give you free money? I don't really understand. What I've imagined it as being is you basically turn your computer on, leave it on all night and you have $20?

Not quite. The "mining" process includes validating bitcoin transactions, meaning that the army of miners is essential for the functioning of the currency. At the same time, the validation process is made artificially more complex over time (the validation itself doesn't change, but the whole "mining" process includes validation+"proof of work", which acts as a controlled overhead to make mining more costly). As this overheads continue to increase, any given hardware will have to spend more time "mining" to finish a job, at which point you finally obtain some bitcoins (no $, just bitcoins). Depending on the price of bitcoins (which is extremely volatile), the $ value of the reward can be very well below the cost (electricity, hardware amortization if you bought it exclusively for mining). With slow enough hardware, you could have it running forever before getting any reward.

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1 minute ago, SpaceGhostC2C said:

Not quite. The "mining" process includes validating bitcoin transactions, meaning that the army of miners is essential for the functioning of the currency. At the same time, the validation process is made artificially more complex over time (the validation itself doesn't change, but the whole "mining" process includes validation+"proof of work", which acts as a controlled overhead to make mining more costly). As this overheads continue to increase, any given hardware will have to spend more time "mining" to finish a job, at which point you finally obtain some bitcoins (no $, just bitcoins). Depending on the price of bitcoins (which is extremely volatile), the $ value of the reward can be very well below the cost (electricity, hardware amortization if you bought it exclusively for mining). With slow enough hardware, you could have it running forever before getting any reward.

 

Ok. Thanks for clearing it up!

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You use ASICs for certain types of algorithms as they are years faster. Instead you could mine something that is GPU and CPU only like etheruem or F@H but it is a waste of electricity 

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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8 hours ago, tlink said:

as easy as soldering your own motherboard, near impossible without very specialized tools.

Well those ASIC cards look compact when professionally done.

I was thinking instead of using SMT parts and specialized tools, it would be a much larger board with TH parts for easier soldering by iron.

The parts soldering is the easy part, but I can only assume there is firmware and software involved, which is way beyond me.

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